Lakshmi Vilas Bank has received approval to raise funds by way of issuance of equity shares or such other eligible security, including but not limited to Global Depository Receipts, American Depository Receipts, Foreign Currency Convertible Bonds, Fully Convertible Debentures / Partly Convertible Debentures, Securities or financial Instruments convertible into equity shares to eligible investors for an aggregate amount not exceeding Rs 1,000 crore. The Board of Directors of the bank at its meeting held on August 28, 2019 has approved the same.
The bank has also received approval to increase authorized share capital of the Bank from Rs 500 crore divided into 50 crore equity shares of Rs 10 each, to Rs 650 crore divided into 65 crore equity shares of Rs 10 each, and the corresponding amendment to the Memorandum of Association of the Bank.
Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.
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